Proposed Fees for the Condominium Management Regulatory Authority of Ontario
The Province has now proposed licensing fees for condominium managers under the CMSA, and has invited input from the public on those proposed fees.
As we now know, on November 1, 2017 the Condominium Management Regulatory Authority of Ontario (“CMRAO”) will become the designated administrative authority under the Condominium Management Services Act, 2015 (“CMSA”). The CMRAO will be responsible for licensing managers, and overseeing the regulation of the condominium management industry.
The Province has now confirmed its proposed fee structure for licensing of managers:
|Transitional General License||$607.00|
|Condominium Management Firm License||$799.00 base fee PLUS $350 per licensee employed by the firm|
Licensing fees will form the primary source of revenue for the CMRAO which will operate as a not for profit corporation.
The Province is currently seeking feedback and input with respect to the above proposed fee structure. If you wish to provide feedback, you can do so by completing a short survey which is accessible from the CMRAO website (there is currently a link on the main page to “Provide Your Input” on the proposed fees). Feedback will be collected by the Province from July 11, 2017 to August 10, 2017.
Stay tuned to Condo Law News for more blogs about amendments to the Condominium Act and upcoming events .